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Islamic Banking Masters Answer Questions on Islamic Finance

How to Deal with Islamic Banking Questions

Just like on any topics there are, the Islamic banking also requires Islamic Banking MCQ that you have to deal with. You don’t have to worry though because there are tips to use when answering these types of questions. You can maximize your success on taking multiple-choice exams, and of course, the main thing to do is to study hard and allot enough time for it. On top of that, there is no substitute or replacement for the right answer. To deal with Islamic Banking questions better, enter all the needed information on the answer sheet, including your name, student number and others.
Cover up your possible responses with people of paper while you’re reading the question. You can also start anticipating the correct answer before you become distracted by the answer provided. If you find the response in the Islamic Banking questions and answers, start circling and checking it to ensure that no other answer is better. If you don’t find the answer you expected, try the process of elimination by getting rid of the choices you think are wrong. Look for verbal association and grammatical clues. Finally, take some time to check your answer if you still have some time to get back to the Islamic Banking questions.

In principal, an ijara contract is extended for an asset _____ by the lessor

Answer from Islamic Banking Masters: Owned

A _____ may be drawn up covering a number of ijara transaction b/w the institution and the customer, setting a the general terms and conditions b/w the two parties.

Answer from Islamic Banking Masters: Master Agreement

An Ijara contract may be executed for an asset undertaken by a lessor to be delivered to the lessee, according to _____, even if the asset so described is not owned by the lessor.

Answer from Islamic Banking Masters: Accurate Specification

 _____ may be taken at the time of promise made by the lesses to obtain an asset from the institution on lease.

Answer from Islamic Banking Masters: Security deposit

If the Lessor fails to deliver the asset to the Lessee on the date specified in the Ijarah contract, _____ rentals should be charged by the Lessee for the period the asset was not in possession of the Lessee.

Answer from Islamic Banking Masters: No

The Bank can receive _____ from the customer for Murabaha facility.

Answer from Islamic Banking Masters: Actual documentation charges

In case Murabaha is arranged on syndication basis, the lead manager bank can receive _____ .

Answer from Islamic Banking Masters: Arrangement fee

It is permissible for the bank to take a fee for a _____ if the same was requested by the client.

Answer from Islamic Banking Masters: Feasibility study

It is permitted for the bank to receive from the customer who has made promise to purchase the Murabaha goods _____ .

Answer from Islamic Banking Masters: Urboon

After introduction of Musharakah on the liability side, as a new mode of finance (as a new version of Shirkah concept) it has been practiced like _____ .

Answer from Islamic Banking Masters: Mixing-up equity of the bank with the depositors and sharing profit & losses to the extent of equity participation and taking profit in the capacity of Mudarib by the bank

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